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WPG (TWSE:3702) Reports 2022 Second Quarter Consolidated Net Income and EPS Exceeding High Range Forecast. 2022 Second Quarter EPS was NT$1.49, YTD EPS was NT$3.54

20220809

WPG (TWSE:3702) Reports 2022 Second Quarter Consolidated Net Income and EPS Exceeding High Range Forecast. 2022 Second Quarter EPS was NT$1.49, YTD EPS was NT$3.54

 

2022/08/09

 

WPG, the largest distributor of semiconductor components globally, announces 2022 Second Quarter consolidated sales achieved NT$199.056 billion, operating income achieved NT$3.775 billion hitting record high for the period. Contributing from Non-operating income, Net income of NT$2.897 billion with EPS NT$1.49 exceeding high range forecast. The first half of 2022 consolidated sales, operating income and net income achieved NT$408.921 billion, +8.4% YoY, NT$7.996 billion, +20.6% YoY and NT$6.341 billion, +13.1% YoY, respectively. EPS was NT$3.54

 

Benefited from profit growth, 2022 Second Quarter key financial indicators Return on Equity (ROE) was 15.9%, Return on Working Capital (ROWC) was 8.6%.

 

The overall demand for semiconductor and related electronic components specifically high-performance computing and cloud hardware device for laptops, communication components, servers and base stations, and automotive electronics are the major causes for growth in sales and net income.

 

For 2022 Third Quarter, based on an exchange rate assumption of NT$29.8 to the U.S. dollar, WPG forecasts consolidated revenue of NT$180 billion to NT$190 billion, gross margin of 3.7% to 3.9%, operating margin of 1.75% to 1.95%, net income of NT$2.261 billion to NT$2.647 billion, EPS of NT$1.35 to NT$1.58.

 

Table: WPG Holdings Ltd. Consolidated Financial Statements for the six months ended June 30, 2022 (In brief)

Units:NT$million

Income Statement

(six months ended June 30, 2022)

 

Balance Sheet

(June 30, 2022)

Item

Amount

 

Item

Amount

Operating revenues

408,921

 

Current Assets

296,001

Cost of Goods Sold

(393,095)

 

Accounts receivables

146,126

Gross Profit

15,826

 

Inventories

118,872

Operating Expenses

(7,830)

 

Other assets

40,989

Operating income

7,996

 

Total Assets

336,990

Non-op Expenses

(227)

 

Current Liabilities

217,282

Profit Before Tax

7,769

 

Current Borrowing

104,420

Tax

(1,382)

 

Accounts payables

89,198

Minority & Others

(46)

 

LT Liabilities

41,102

Profit After tax

6,341

 

Total Liabilities

261,146

EPS - Common Stock (Note1)

3.54

 

Common Stock

16,791

Note1:Based on weighted average outstanding shares.

 

Total Equity

75,844

 

Cash Flow Statement

(six months ended June 30, 2022)

Item

Amount

Income before Income Tax

7,769

Change in NWC

(31,221)

Operating cash inflow /(outflow)

(29,712)

Investment cash inflow /(outflow)

(1,792)

Change in Financial Debt

24,145

Financing cash inflow /(outflow)

23,835

Cumulative translation adjustments

5,893

Net Cash

(1,777)

Beginning cash balance

14,408

Ending cash balance

12,631

 

IR contacts:Cliff Yuan/ Zoe Peng

Tel:886-2-7712-5268 / 886-2-7712-5262

Email address:  ir@WPGholdings.com

Corporate website:  www.WPGholdings.com

 

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